Will oil prices drive inflation higher in the 2nd half?
"Demand is quite healthy, which could be cause for optimism about the global economy were it not for the fact that supply is falling short of expectations. This is fueling concern about more inflation pain despite the efforts of central banks in Europe and North America to tame it with a series of rate hikes."
“We expect pretty sizable deficits in the second half with deficits of almost 2 million barrels per day in the third quarter as demand reaches an all-time high,” Goldman’s head of oil research Daan Struyven told CNBC’s “Squawk Box Asia” on Monday. $Occidental Petroleum (OXY.US)$ $Chevron (CVX.US)$ $Exxon Mobil (XOM.US)$
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